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Palatin Technologies Announces Third Quarter Fiscal Year 2013 Results and Update on Development of Bremelanotide for Female Sexual Dysfunction
Date:5/14/2013

9,6295,95537,01728,229Interest expense

(1,103)(1,830)(4,746)(6,650)Increase in fair value of warrants

--(7,069,165)-Gain on disposition of supplies and equipment

-1,7004,6204,700Total other income (expense), net

8,5265,825(7,032,274)26,279Loss before income taxes

(4,015,258)(6,020,702)(17,897,334)(13,068,118)Income tax benefit

--1,753,2081,068,233NET LOSS

$
(4,015,258)$
(6,020,702)$
(16,144,126)$
(11,999,885)Basic and diluted net loss per common share

$
(0.04)$
(0.17)$
(0.17)$
(0.34)Weighted average number of common shares

outstanding used in computing basic and diluted net

loss per common share

106,424,44334,900,59194,754,78934,900,591 PALATIN TECHNOLOGIES, INC.and SubsidiaryConsolidated Balance Sheets(unaudited)March 31, 2013June 30, 2012ASSETSCurrent assets:Cash and cash equivalents

$
23,537,053$
3,827,198Short-term investments

5,998,740-Accounts receivable

-27,631Restricted cash

-350,000Prepaid expenses and other current assets

488,185532,010Total current assets

30,023,9784,736,839Property and equipment, net

307,020318,653Other assets

58,337324,992Total assets

$
30,389,335$
5,380,484LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Capital lease obligations

$
23,591$
22,277Accounts payable 

733,443294,894Accrued expenses

1,986,2402,706,496Accrued compensation

-433,333Total current liabilities

2,743,2743,457,000Capital lease obligations 

2,04819,909Deferred rent

44,76472,677Total liabilities

2,790,0863,549,586Stockholders' equity:Preferred stock of $0.01 par value – authorized 10,000,000 shares;Series A Convertible; issued and outstanding 4,697 shares as

of March 31, 2013 and 4,997 as of June 30, 2012 

4750Common stock of
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SOURCE Palatin Technologies, Inc.
Copyright©2012 PR Newswire.
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